Citigroup Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $10.00

Peloton Interactive (NASDAQ:PTON) had its price objective reduced by equities research analysts at Citigroup from $11.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 13.92% from the stock’s previous close.

Several other analysts also recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Thursday. Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, November 1st. Morgan Stanley boosted their price target on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Friday. Finally, Truist Financial lifted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.

Peloton Interactive Stock Performance

Shares of PTON stock opened at $8.78 on Monday. The firm has a fifty day moving average of $8.92 and a 200-day moving average of $6.68. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -11.40 and a beta of 1.95. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, sell-side analysts predict that Peloton Interactive will post -0.39 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. The trade was a 32.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elizabeth F. Coddington sold 186,462 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the transaction, the chief financial officer now owns 223,017 shares in the company, valued at approximately $1,690,468.86. The trade was a 45.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 395,813 shares of company stock worth $3,041,724. Company insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gtcr LLC bought a new position in shares of Peloton Interactive in the third quarter worth $65,520,000. Hennessy Advisors Inc. bought a new stake in Peloton Interactive during the fourth quarter worth $85,260,000. Assenagon Asset Management S.A. acquired a new stake in shares of Peloton Interactive in the 4th quarter valued at $39,992,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock valued at $36,782,000 after purchasing an additional 3,004,757 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Peloton Interactive during the 3rd quarter worth $8,363,000. 77.01% of the stock is owned by institutional investors and hedge funds.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.